MUMBAI: Indian benchmark stock indices closed higher on Wednesday, snapping a two-day losing streak as gains in banking, FMCG, and heavyweight equities bolstered market sentiment, as per media reports.
The BSE Sensex gained 332.63 points, or 0.45 percent, to close at 74,336.45. The Nifty 50 advanced 99 points, or 0.43 percent, to end at 23,217.60, as per media reports. The recovery followed Tuesday’s sharp sell-off.
Sectorally, 12 of the 16 major indices ended higher. Nifty FMCG led the rally with a 1.63 percent gain, followed by banking and realty shares. However, information technology stocks dragged on the market due to profit-booking, with the Nifty IT index falling 1.58 percent, as per media reports.
Digital payment providers rallied after the announcement of a 0.4 percent merchant discount rate on select person-to-merchant UPI transactions above 2,000 rupees starting 15 Oct., as per media reports.
Market volatility eased slightly, with the India VIX falling 1.93 percent to 13.17. Meanwhile, easing crude oil prices aided sentiment, though investors remained cautious ahead of the U.S. Federal Reserve’s rate decision, as per media reports.
Disclaimer: This content is based on media reports and market data available at the time of reporting and is for informational purposes only. Investors are advised to consult a qualified financial expert before making any investment decisions. VisionMP is not responsible for any loss arising from the use of this information.
